Allied Gold Corporation (NYSE:AAUC) Receives Consensus Recommendation of “Reduce” from Analysts

Shares of Allied Gold Corporation (NYSE:AAUC) have received a consensus rating of “Reduce” from the four brokerages that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation and three have assigned a hold recommendation to the company.

A number of brokerages have issued reports on AAUC. Weiss Ratings reissued a “sell (d-)” rating on shares of Allied Gold in a research note on Tuesday, January 27th. Canaccord Genuity Group lowered Allied Gold from a “strong-buy” rating to a “hold” rating in a report on Monday, January 26th. Zacks Research cut Allied Gold from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 9th. Finally, Stifel Nicolaus downgraded Allied Gold from a “buy” rating to a “hold” rating in a research note on Tuesday, February 10th.

Institutional Trading of Allied Gold

Several large investors have recently made changes to their positions in AAUC. Helikon Investments Ltd increased its position in Allied Gold by 12.0% in the 4th quarter. Helikon Investments Ltd now owns 16,498,498 shares of the company’s stock worth $377,486,000 after buying an additional 1,761,864 shares during the period. Orion Resource Partners LP acquired a new position in shares of Allied Gold during the second quarter worth approximately $103,634,000. UBS Group AG boosted its position in shares of Allied Gold by 3,921.0% in the fourth quarter. UBS Group AG now owns 4,042,883 shares of the company’s stock valued at $92,501,000 after acquiring an additional 3,942,340 shares during the period. Boston Partners boosted its position in shares of Allied Gold by 8.4% in the fourth quarter. Boston Partners now owns 3,967,412 shares of the company’s stock valued at $90,774,000 after acquiring an additional 307,675 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Allied Gold by 106.7% in the fourth quarter. Vanguard Group Inc. now owns 2,435,409 shares of the company’s stock worth $55,805,000 after acquiring an additional 1,257,438 shares during the last quarter.

Allied Gold Stock Up 0.1%

Shares of NYSE AAUC opened at $31.09 on Wednesday. The stock’s fifty day simple moving average is $30.97 and its 200 day simple moving average is $23.38. The stock has a market capitalization of $3.89 billion and a price-to-earnings ratio of -86.36. Allied Gold has a 52-week low of $8.67 and a 52-week high of $32.08.

Allied Gold Company Profile

Allied Gold (NYSE: AAUC) is a publicly listed company that operates in the gold mining sector. The firm’s business centers on identifying, acquiring and advancing gold-bearing properties with the objective of creating and operating economically viable mining assets. Allied Gold’s activities are typical of junior and mid-tier gold companies, encompassing exploration, resource definition, development planning and the eventual production and sale of gold.

Core business activities for Allied Gold include mineral exploration programs to discover and delineate gold resources, feasibility and engineering studies to assess project economics, permitting and mine development work where projects progress to the construction phase, and operational oversight for producing assets.